Seychelles National Assembly Votes For New Goods And Services Tax
The Seychelles National Assembly has voted
in favour of a Goods and Services Tax (GST) which will initially be applied
to locally produced goods and services such
as beer, cigarettes and soft drinks and will be imposed on other goods,
including imported products, at a later date. According to the Seychelles Nation online
news service, Vice President and Minister for Finance James Michel, who
presented the Goods and Services Tax Bill to the National Assembly, explained
that the bill was developed with the advice of foreign consultants in the light of
varying tax and revenue collection systems from around the world in an
attempt to discover which would best suit the Seychelles. The aim of the new tax is to bring the Seychelles
into line with international standards and it was decided that the GST
would be the most favourable choice because it is a modern system and
is implemented in many countries throughout the world. .
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